Bitcoin worth soars as newly launched ETF accumulates BTC

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  • Based on HODL15Capital, 9 newly launched Spot Bitcoin ETFs at the moment maintain extra Bitcoin than Michael Saylor's MicroStrategy.
  • 9 ETFs purchased 216,309 Bitcoin value $10.3 billion in 20 days.
  • As of February sixth, MicroStrategy has 190,000 Bitcoins in its portfolio

Based on HODL15Capital, which calls itself a capital compounder, 9 newly launched spot Bitcoin ETFs at the moment maintain extra Bitcoin than Michael Saylor's MicroStrategy. In a latest submit on X (previously Twitter), HODL15Capital famous that 9 recognized ETFs bought 216,309 Bitcoin value $10.3 billion in 20 days.

HODL15Capital shared a bar chart reflecting the BTC bought by every ETF since January 11, the day after the U.S. Securities and Alternate Fee (SEC) permitted it. The information shared exhibits that BlackRock's IBIT and Constancy's FBTC accounted for almost all of Bitcoin purchases. The chart additionally reveals that BTC bought by the recognized ETFs is rising every single day.

The reported 216,309 Bitcoins signify the full Bitcoin bought by the ETF as of February 9, exceeding MicroStrategy's holdings of 190,000 Bitcoins, based on the report. The well-known asset administration firm began shopping for Bitcoin in mid-2020 after saying it could begin investing a few of its money in different property, together with cryptocurrencies.

For the reason that SEC permitted spot Bitcoin ETFs, the Bitcoin worth has proven two necessary transitional levels. BTC fell sharply after the preliminary spike, with the value falling from $49,048 on January 11 to $38,505 as of January 23, marking the primary stage of the post-ETF worth motion.

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The value reversed instantly after reaching the assist at $38,505, embarking on the uptrend it has been sustaining up to now. Based on TradingView knowledge, Bitcoin is buying and selling at $48,282 on the time of submitting this report. It regained its upward momentum, broke by the short-term resistance line, and headed for the year-to-date excessive on January eleventh.

If Bitcoin breaks by the brand new highs, it might surpass $50,000 for the primary time since December 2021. There may be additionally important resistance at $52,000, which might pave the way in which for the value to maneuver larger.

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